Lockheed Martin (NYSE:LMT) is slated to report its fourth-quarter 2022 results on January 24, before the market opens. The company’s major role in supplying arms to Ukraine against its war with Russia, along with easing supply chain issues, are likely to have supported performance in the fourth quarter.
Further, the company bagged several orders during the quarter, including an order of Orion ships to NASA, which are expected to have further aided top-line growth.
Currently, the Street expects Lockheed to post earnings of $7.41 per share in Q4, down slightly from $7.47 in the prior-year period. Meanwhile, revenue expectations are pegged at $18.3 billion, representing a year-over-year jump of 3.4%.
Is Lockheed Martin a Good Buy?
Overall, Wall Street is sidelined on the stock with a Hold consensus rating. This is based on one Buy, eight Hold, and one Sell recommendations. The average stock price target of $512.67 implies 15.7% upside potential from the current level. Shares of the company are up 12.3% in the past six months.
Lockheed is expected to benefit from the rising defense budgets of several countries seeking to upgrade their aircraft and weapons. Furthermore, the company’s strong order backlog reflects well on its financial performance in the near term.